The left has never seen a tax they weren’t in favor of, but a recent guest column at the Association of Mature American Citizens (AMAC) – the non-lefist version of the AARP – may have uncovered just such a tax, one that’s sure to have the left and, most especially, academics, up in arms.
That tax? A tax on university endowments. The plan has some things going for it, but it may not be that easy to see it done:
House Ways and Means Committee Chairman Jason Smith is suggesting a tax on the $840 billion college endowments. These endowments will soon eclipse $1 trillion in size — more money than the entire GDP of many countries.
It’s high time that bloated and entitled universities pay their fair share for the government services they use.
Why not? Their professors forever lecture us about tax “fairness,” but the schools where they teach a few hours a…
